In recent years, the values of precious metals have increased to some of their highest levels. Following a nearly three-decade long bear market, gold, silver, platinum, and palladium have all seen huge increases in value largely as a result of the financial meltdown of late 2008 that left nearly everyone scrambling for safe haven assets as the stock markets and real estate values plunged.

It is not entirely surprising that demand for these metals have increased during this period. After all, they have proven track record that stretches back thousands of years for holding their value in the face of crisis. As a store of value, precious metals are universally valued, no matter culture, language, or location.

One of the best performing of all the commonly traded precious metals over this time period has been silver. Once thought of as nothing more than "poor man`s gold," silver bullion has gained the attention and appreciation those in both the precious metals community and investors in the general public alike. The rising value of silver in relation to gold can best be illustrated by the declining silver/gold ratio of the past three years.

The silver/gold ratio, What is a troy ounce simply defined as the amount of silver in troy ounces that is required to obtain one troy ounce of gold. That ratio stood at 83 to 1 in October of 2008, and fell to a low of 32 to 1 in April of 2011 - meaning that silver increased in value by over 2.5 times compared to gold during this period. While gold had traditionally garnered the majority of attention among precious metals, silver began to shine.

The allure of silver is found in its relative affordability in comparison to gold and other precious metals. You do not need to be King Midas to obtain it. With the price of silver per ounce in double digits, it is the most affordable option for those looking to invest in precious metals. Silver bullion coins like the American Silver Eagle and Canadian Silver Maple Leaf are the most popular options for those looking to buy silver - each weigh just one troy ounce.

By comparison, the price of gold, platinum, and palladium have all skyrocketed. With gold having recently traded as high as $1800 per troy ounce, many wanting to buy precious metals as an investment have been priced out of the market, and instead turned their attention to silver. If trends continue and the silver/gold ratio continues to fall, then they will have made a wise choice.